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Below is an Interesting article I found, which says that.....Do not 2 P6 \, r N8 p: K- [
expect much from Crude Oil producers and future is not with the 0 w2 T8 X1 }( x5 M" G7 ^+ b
companies producing Jet fuels but Biofuels. Also no wonder if some of 6 W7 ^! m3 E+ G' A+ y6 J' |# P7 j
these oil producer will go bankrupt or out of the business even if : F7 w, c. ?0 ~" r& ?% L
crude prices improves. This implies also to good names such as Shell, * R9 _7 R2 S) R$ `3 M
EXXON, BG, BP, Cheveron ....xyz.. oils * c. W! \% x# k9 R
( T. q% `6 Y( n# o; nRecently OPEC reduced crude oil production twice over just a few
# M. Y: Q! p: z9 u0 y, fmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
! O R: y8 |1 V* ]4 y* ]7 IA year ago these things would have spiked the price of crude oil by at ) \0 O+ e+ F, H( C
least $50.00 per barrel. Today, oil price declined by a record amount.
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/ t7 i( o1 \8 L( UThere are several reasons the price of oil is decreasing in the face * K: w) v2 t+ u. \ c1 F$ ~
of so much news. These reasons are: . w/ Q ~8 r" b/ q* u' o1 O
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2 v( ^) d H* I4 h5 n1. New oil has been found in Canada, Montana, North & South Dakota and 6 N6 k4 }% |0 |' v, U
in the ocean near Brazil. Each of these oil fields has more oil than & l. v/ {( o3 y3 r, u$ V; m
Arabia.
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& ?" p7 {/ ?, ]) I1 ^2. New natural gas has been found in Pennsylvania and West Virginia.
8 V7 t0 n; H* t. E0 DThis is the largest find in North America. $ E. h0 |$ h) a3 r! V0 B8 n, h
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3. New methods of injecting CO2 and surfactants into oil wells is - C4 z6 ?7 M* o
being used to double their output. / C! [- v* F% i, O/ J
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/ G ?0 j9 {* l; Y' }4. Production of bio-fuels is beginning to reach critical mass. Bio
/ R! |0 S6 V/ f: B" X3 bfuel is being produced from many plants and algae. The production
. W3 c( \6 W C/ Dpotential per acre in some cases is astounding. Many countries are
: N2 M8 ^7 L- O+ T. lracing to produce bio fuels. . I; |& [, p$ S, n# [) g. R
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) Q: V$ T/ [( y+ k& h8 }5. Virtually every restaurant in the US and all food processing plants
5 \& r# A! l6 _5 \5 C! eare now selling their used oil to bio-diesel producers. Every pork, " t" m# _5 ]6 R+ @" a
cattle, turkey and chicken processing plant will soon sell their fat
- n, @& F, J* ~2 Rto bio-diesel producers. One pork processing plant in Oklahoma is % m5 E4 B: X3 m Z6 u
producing 30,000 gallons of bio-diesel per day from pork fat. $ c8 y% f4 r1 K6 E1 M# ~: ]
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6 q. H; a1 Y) e8 @6. There are 99 nuclear reactors in various stages of planning and 5 T6 D4 t0 E7 Z
construction around the world at this time. Several hundred more are
" W1 l% b$ ?- K/ Iexpected to be built in the future. Much of the energy they produce
0 @$ g. ~. }+ k0 o1 @, r) ?will replace oil.
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7. Every company in any form of transportaion business is replacing 4 s" X- K1 q- O% u9 r' h* K) k
older equipment such as trucks, airplanes, train engines, ships, etc.
6 O1 r& v3 V6 Bwith new more fuel efficient equipment. Airlines and railway companies
7 Z3 S: U3 m- {. Mare experiencing 20% to 25% better fuel econony with the new 6 C* L7 T W* t. ?
equipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- 4 i) b' \) b8 Y1 c- O
fuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to / a$ ~6 F- v& x3 \; R N( r
capture methane gas from landfills. This is a huge source of gas 0 q& Z3 U. {! \" ^( } L1 Z
available at very little cost or risk. The gas is displacing crude
z6 r% k( c" \5 g, roil. ~& \- U# z( `% O
, H$ x3 Y' d- }. H3 {
5 u' A4 i) ^% M# O9. Coal is being transformed into a clean burning liquid fuel. The CO2
# m7 l% f6 N+ b( qproduced as a byproduct is sold to oil companies for injection into ^+ {- \; m7 T( m7 O {+ {0 T( o
oil wells. , Z2 a+ t7 c, M+ U) e
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10. Solar, wind and ocean energy is displacing oil as an energy 4 r6 c% g# l$ K" |) W
source. Three new wind turbines are being erected every day in the US.
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7 m7 ]$ q8 E# lEach of the above by itself will not make a large difference in the
7 @$ n9 M# t5 |- t! A2 nprice of crude oil but the sum of all of them together is world ) V3 F! u2 G$ z3 Z
changing. The important thing is that OPEC no longer has the ability
}3 r9 |% A( \4 z- t& A9 q1 f- |to control oil prices. 7 D2 Z- B9 m$ t( q5 k+ Z% a4 q( l
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With the above scenario, I still believe that there are under
! b" [, X/ T- @) o! o' I+ i8 dperformed OIL companies and probably they are yet to get the justified ( f2 I6 O. g5 k- K; M! E7 X
value .....
& }4 Z* W0 G9 u, C. JIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... * ^# o: e* |& T4 h I
* h/ E1 r% a) t" e# }4 A( U
( E+ U( y. }2 F& pThe above articles are from WSJ .............PUBLISHED ON 9TH JAN ! F2 v1 {" e% w8 s7 E
2009 ... FYI-Only |
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